News in brief:
-Abu Dhabi’s Maqta Gateway will test its blockchain solution Silsal through a partnership with Mediterranean Shipping Company (MSC)
-The test with MSC will be the first proof of concept of its kind involving a global marine operator
-Silsal will provide a seamless and secure link between stakeholders across the trade community using the electronic ledger system
-MSC will provide vital information and feedback on the international pilot project
Abu Dhabi Ports subsidiary, Maqta Gateway, has unveiled its plans to start testing of its blockchain solution Silsal with a maritime operator in partnership with Mediterranean Shipping Company (MSC).
While Silsal has already been tested internationally, the test with MSC will be the first proof of concept of its kind involving a global marine operator.
Silsal provides a seamless and secure link between stakeholders across the trade community using the electronic ledger system.
As a major carrier, MSC will provide vital information and feedback on the international pilot project, which will test the capabilities of the technology to exchange, identify, and acknowledge cargo documents and certificates between Abu Dhabi Ports and other ports.
Andre Simha, chief information officer at MSC, said: “This innovative pilot project should help pave the way for improved documentation flows and streamline supply chains for companies. We welcome new partnerships which reduce delays, improve inventory management, and identify issues faster, resulting in significant cost savings for all parties involved.”
Blockchain technology acts as an open digital ledger that can be used by trade actors to record and extract transaction details with greater security, transparency and efficiency.
First unveiled in June 2018, Silsal has been rolled out in phases and will be offered first to freight forwarders and their customers, and subsequently extended to the rest of the trade community as a complementary tool to Maqta Port Community System.
“The vision of the UAE Leadership is for our nation to become a world leader in adopting blockchain, as per UAE Blockchain Strategy 2021, transforming digital transactions and saving time, effort and resources on a huge scale,” said Captain Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports.
“Abu Dhabi Ports is proud of the role that Maqta Gateway and initiatives such as Silsal are playing in helping to realize this vision and we will continue to harness the power of innovative solutions and emerging technologies to further facilitate trade in the future,” he added.
MSC is one of the world’s leading shipping firms, with a network of more than 480 offices in 155 countries, a fleet of 510 container vessels and over 70,000 employees. Its global sailing schedules cover 200 routes, calling at 500 ports.